SembCorp Marine to Build Offshore Platforms for Tunu Field
PT SMOE Indonesia, a subsidiary of SembCorp Marine, has been awarded its first turnkey contract by TOTAL E&P Indonesie for the construction of two offshore platforms worth a total of US $80 million. PT SMOE Indonesia is a subsidiary of SMOE Pte Ltd, a fully-owned subsidiary of SembCorp Marine Ltd.
PT SMOE Indonesia will undertake engineering, procurement, construction, transportation, installation, hook up and commissioning for a manifold and a compression platform to be installed in Indonesia’s Tunu Field, which is located on the East of Kalimantan on the outer margin of the Mahakam Delta, partially onshore in swamp areas and partially offshore in shallow waters.
Scheduled for completion in the first quarter of 2009, the manifold platform weighs about 2,500 tons and the compression platform weighs about 3,600 tons.
Mr. Ho Nee Sin, Managing Director of SMOE said “We are pleased to be awarded this contract and to participate in Indonesia’s robust oil and gas sector. This is PT SMOE’s first major turnkey project in Indonesia. We hope to leverage on SembCorp Marine’s integrated network of shipyard facilities and expertise and to participate actively in this growth sector. Currently we are planning to develop another 30 hectares of land adjacent to our existing Batam yard to grow this business.”
Barring unforeseen circumstances, SembCorp Marine expects a positive contribution to its earnings from the contract. However, this contract is not expected to have any material impact on the net tangible assets and earnings per share of SembCorp Marine for the year ending December 31, 2007.
PT SMOE Indonesia, a subsidiary of SMOE was first established in 1987.
It offers turnkey engineering and contracting services to the Indonesian oil
and gas industry through its custom built 30 hectares yard on Batam Island.
A further 30 hectares development, adjacent to the existing yard, is being
planned. PT SMOE also complements the global contracting activities of
SMOE. Its track record included productions and wellhead platforms,
jackets, living quarters and modules.
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